Piper Sandler Companies (NYSE:PIPR) Lowered to “Hold” Rating by StockNews.com

Piper Sandler Companies (NYSE:PIPR) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Separately, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Trading Down 1.6 %

PIPR opened at $301.10 on Friday. The stock’s 50 day simple moving average is $322.06 and its 200-day simple moving average is $309.05. The stock has a market cap of $5.35 billion, a PE ratio of 32.17 and a beta of 1.43. Piper Sandler Companies has a 1 year low of $162.50 and a 1 year high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.04. The firm had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. Equities analysts forecast that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Piper Sandler Companies

Institutional investors have recently added to or reduced their stakes in the company. Cerity Partners LLC grew its stake in Piper Sandler Companies by 21.3% during the third quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock worth $4,558,000 after buying an additional 2,819 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Piper Sandler Companies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after acquiring an additional 2,689 shares in the last quarter. Barclays PLC grew its position in Piper Sandler Companies by 307.2% during the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock worth $9,174,000 after acquiring an additional 24,388 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Piper Sandler Companies during the 3rd quarter valued at $624,000. Finally, Citigroup Inc. raised its position in Piper Sandler Companies by 63.4% in the 3rd quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock valued at $6,101,000 after purchasing an additional 8,337 shares during the last quarter. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Company Profile

Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. It offers investment banking services and institutional sales, trading, and research services for various equity and fixed income products; advisory services, such as mergers and acquisitions, equity and debt private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.